{"id":651568,"date":"2024-11-05T04:30:25","date_gmt":"2024-11-05T04:30:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=651568"},"modified":"2024-11-04T16:42:29","modified_gmt":"2024-11-04T16:42:29","slug":"bitcoin-long-term-holders-offload-over-177k-btc","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-long-term-holders-offload-over-177k-btc\/","title":{"rendered":"Bitcoin Long-Term Holders Offload Over 177k BTC: Is A Price Surge Or Correction Next?"},"content":{"rendered":"

Bitcoin, often influenced by long-term holders’ (LTH) decisions, has witnessed significant selling activity among this investor group over the past week.<\/p>\n

While the reason behind the long-term holders offloading Bitcoin is not certain, the move appears to have impacted BTC, resulting in the recent correction<\/a> in its price dropping below the $70,000 price mark.<\/p>\n

Related Reading: Bitcoin Hash Ribbons Flash \u2018Buy\u2019 Signal: Analysts See New Highs On The Horizon<\/a><\/div>\n

Bitcoin\u2019s Long-Term Holders Begins To Cash Out<\/h2>\n

According to an analysis<\/a> shared by Crypto analyst Maartunn, long-term holders sold approximately 177,617 BTC within the last seven days.<\/p>\n

Based on data from IntoTheBlock, this trend shows a pattern in which Bitcoin\u2019s long-term investors tend to reduce their holdings during price increases, a behavior often perceived as a “contrarian indicator” in the crypto market, Maartunn reveals.<\/p>\n

Typically, these LTHs, who hold Bitcoin with a longer investment horizon, tend to buy<\/a> during downturns and sell<\/a> during price upticks.<\/p>\n

Maartunn pointed out that similar patterns were visible during previous bull markets in 2018, 2021, and 2024, indicating a possible strategic response to Bitcoin\u2019s recent price movement.<\/p>\n

\n

Bitcoin Long-Term Holders (\ud83d\udd35) Sold 177,617 BTC in the Last 7 Days<\/p>\n

This chart displays Balance Changes by Time Held, offering insight into the movement of older Bitcoin. These older coins, referred to as Long-Term Holders (LTH), typically belong to investors with a long-term\u2026 pic.twitter.com\/wiCVdIbf9e<\/a><\/p>\n

\u2014 Maartunn (@JA_Maartun) November 4, 2024<\/a><\/p><\/blockquote>\n

With Bitcoin\u2019s price recovering and returning to levels above $68,000<\/a>, the distribution of holdings among long-term investors suggests cautious positioning, even as many anticipate a potential upward continuation.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Technical Analysis Indicates Key Levels to Watch for Bitcoin<\/h2>\n

As Bitcoin continues to trade around crucial levels, another prominent analyst, known as CryptoBullet, has shared his outlook on the asset\u2019s recent performance and potential upcoming movements.<\/p>\n

Despite Bitcoin\u2019s brief dip below the $70,000 mark, CryptoBullet expressed limited concern, noting<\/a> that the asset has maintained three weekly closes above a major resistance line, which indicates resilience.<\/p>\n

\n

#Bitcoin<\/a> $BTC<\/a><\/p>\n

Third weekly close above the Resistance line \ud83d\udc4c<\/p>\n

Do I care about that wick? Not really. We didn\u2019t sweep the March high so it\u2019s not that dangerous imo.<\/p>\n

New ATH is coming anyway \ud83d\ude80 https:\/\/t.co\/mVsvJOZMpI<\/a> pic.twitter.com\/sjm4ek9Jsg<\/a><\/p>\n

\u2014 CryptoBullet (@CryptoBullet1) November 4, 2024<\/a><\/p><\/blockquote>\n

According to his analysis, although Bitcoin has not swept past the previous high set in March, the current consolidation phase is not necessarily a cause for concern.<\/p>\n

CryptoBullet further highlighted<\/a> a few significant price zones, particularly between $65,000 and $66,000, which he considers pivotal for determining Bitcoin\u2019s near-term trend. Should Bitcoin fail to hold at these levels, a drop to the $60,000 to $61,000 range could be expected.<\/p>\n

Related Reading: Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000<\/a><\/div>\n

However, he remains optimistic about a long-term bullish outcome, suggesting that once these levels are tested, Bitcoin could resume its upward trajectory<\/a> and eventually reach new all-time highs.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, often influenced by long-term holders’ (LTH) decisions, has witnessed significant selling activity among this investor group over the past week. While the reason behind the long-term holders offloading Bitcoin is not certain, the move appears to have impacted BTC, resulting in the recent correction in its price dropping below the $70,000 price mark. Related Reading: Bitcoin Hash Ribbons Flash \u2018Buy\u2019 Signal: Analysts See New Highs On The Horizon Bitcoin\u2019s Long-Term Holders Begins To Cash Out According to an analysis shared by Crypto analyst Maartunn, long-term holders sold approximately 177,617 BTC within the last seven days. Based on data from IntoTheBlock, this trend shows a pattern in which Bitcoin\u2019s long-term investors tend to reduce their holdings during price increases, a behavior often perceived as a “contrarian indicator” in the crypto market, Maartunn reveals. Typically, these LTHs, who hold Bitcoin with a longer investment horizon, tend to buy during downturns and sell during price upticks. Maartunn pointed out that similar patterns were visible during previous bull markets in 2018, 2021, and 2024, indicating a possible strategic response to Bitcoin\u2019s recent price movement. Bitcoin Long-Term Holders (\ud83d\udd35) Sold 177,617 BTC in the Last 7 Days This chart displays Balance Changes by Time Held, offering insight into the movement of older Bitcoin. These older coins, referred to as Long-Term Holders (LTH), typically belong to investors with a long-term\u2026 pic.twitter.com\/wiCVdIbf9e \u2014 Maartunn (@JA_Maartun) November 4, 2024 With Bitcoin\u2019s price recovering and returning to levels above $68,000, the distribution of holdings among long-term investors suggests cautious positioning, even as many anticipate a potential upward continuation. Technical Analysis Indicates Key Levels to Watch for Bitcoin As Bitcoin continues to trade around crucial levels, another prominent analyst, known as CryptoBullet, has shared his outlook on the asset\u2019s recent performance and potential upcoming movements. Despite Bitcoin\u2019s brief dip below the $70,000 mark, CryptoBullet expressed limited concern, noting that the asset has maintained three weekly closes above a major resistance line, which indicates resilience. #Bitcoin $BTC Third weekly close above the Resistance line \ud83d\udc4c Do I care about that wick? Not really. We didn\u2019t sweep the March high so it\u2019s not that dangerous imo. New ATH is coming anyway \ud83d\ude80 https:\/\/t.co\/mVsvJOZMpI pic.twitter.com\/sjm4ek9Jsg \u2014 CryptoBullet (@CryptoBullet1) November 4, 2024 According to his analysis, although Bitcoin has not swept past the previous high set in March, the current consolidation phase is not necessarily a cause for concern. CryptoBullet further highlighted a few significant price zones, particularly between $65,000 and $66,000, which he considers pivotal for determining Bitcoin\u2019s near-term trend. Should Bitcoin fail to hold at these levels, a drop to the $60,000 to $61,000 range could be expected. Related Reading: Is The Bitcoin Bull Market Over? Analyst Reveals Bear Case That Could Send Price To $28,000 However, he remains optimistic about a long-term bullish outcome, suggesting that once these levels are tested, Bitcoin could resume its upward trajectory and eventually reach new all-time highs. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":651572,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,1119,78790,10923,79112],"class_list":["post-651568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-btc","tag-btcusdt","tag-crypto-market","tag-intotheblock"],"acf":[],"yoast_head":"\nBitcoin Long-Term Holders Offload Over 177k BTC: Is A Price Surge Or Correction Next?<\/title>\n<meta name=\"description\" content=\"Bitcoin, often influenced by the decisions of long-term holders (LTH), has witnessed significant selling activity among this investor group...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Long-Term Holders Offload Over 177k BTC: Is A Price Surge Or Correction Next?","url":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-long-term-holders-offload-over-177k-btc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-long-term-holders-offload-over-177k-btc\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-17.38.49-A-digital-illustration-showing-Bitcoin-long-term-holders-offloading-their-BTC.-The-image-features-a-Bitcoin-symbol-with-downward-arrows-indicating-the.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-17.38.49-A-digital-illustration-showing-Bitcoin-long-term-holders-offloading-their-BTC.-The-image-features-a-Bitcoin-symbol-with-downward-arrows-indicating-the.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin market","btc","btcusdt","crypto market","intotheblock"],"dateCreated":"2024-11-05T04:30:25Z","datePublished":"2024-11-05T04:30:25Z","dateModified":"2024-11-05T04:30:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Long-Term Holders Offload Over 177k BTC: Is A Price Surge Or Correction Next?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-long-term-holders-offload-over-177k-btc\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-long-term-holders-offload-over-177k-btc\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-04-17.38.49-A-digital-illustration-showing-Bitcoin-long-term-holders-offloading-their-BTC.-The-image-features-a-Bitcoin-symbol-with-downward-arrows-indicating-the.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-04-17.38.49-A-digital-illustration-showing-Bitcoin-long-term-holders-offloading-their-BTC.-The-image-features-a-Bitcoin-symbol-with-downward-arrows-indicating-the.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin market\",\"btc\",\"btcusdt\",\"crypto market\",\"intotheblock\"],\"dateCreated\":\"2024-11-05T04:30:25Z\",\"datePublished\":\"2024-11-05T04:30:25Z\",\"dateModified\":\"2024-11-05T04:30:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-04-17.38.49-A-digital-illustration-showing-Bitcoin-long-term-holders-offloading-their-BTC.-The-image-features-a-Bitcoin-symbol-with-downward-arrows-indicating-the.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=651568"}],"version-history":[{"count":3,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651568\/revisions"}],"predecessor-version":[{"id":651576,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/651568\/revisions\/651576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/651572"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=651568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=651568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=651568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}